According to some well-informed sources from within the “Curv” company specialized in preserving and storing digital currencies, there is a negotiation with an unnamed buyer for the purpose of acquiring it for about $500 million.

An internal source said, who asked the Source Anonymity, that the talks are in their early stages and may continue to advanced stages and may fail or continue.

According to the aforementioned source, PayPal is the biggest candidate involved in this negotiation as PayPal seeks to expand its crypto-related options and offerings, after the company began providing customers with the ability to hold, sell and buy cryptocurrencies on its platform.

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intend PayPal will add such capabilities to its mobile payment service subsidiary Venmo in the next few months.

PayPal plans to launch merchant acceptance features and services for cryptocurrency starting this month.

Curv is a New York-based company that was founded in 2018 and is overseen by Dan Yadlin as CTO and himself the CEO of Team8. Curv’s CEO is Atay Mallinger.

So far, Curv has raised $29 million.

In July last year, the same company also raised $23 million in investments.

Curv says its products are used by a variety of customers, including investment firm Franklin Templeton.

The company has built a cloud-level crypto asset management platform that secures cryptocurrencies while allowing cryptocurrency to be monetized at any time.

What was mentioned above regarding the acquisitions from PayPal is still awaiting official confirmation from the concerned authorities.

The crypto market is going in the right direction:

Last year, PayPal revealed that 350 million users worldwide will be able to deposit bitcoin and other cryptocurrencies into their wallets and spend it across 26 million merchants in 2021.

Read:New York Attorney General’s case against Bitfinex and Tether postponed

In October last year, PayPal announced support for cryptocurrency trading in the United States with the service powered by US-based Paxos.

Shortly after the company launched its cryptocurrency offering services, rumors surfaced that the payment giant was looking for acquisitions.

In November, PayPal held discussions, but later dropped, that included plans to acquire cryptocurrency storage company BitGo.

It is therefore not surprising to see that leading cryptocurrency custodians become prime targets for acquisitions.

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